Sotheby’s achieves world record price for purple-pink diamond at Hong Kong auction

Sotheby’s achieved world auction records at its recent Magnificent Jewels and Jadeite Sale in Hong Kong. Its sale of a 8.41-carat internally flawless fancy vivid purple-pink diamond for US$17.77 million (estimate US$13 – 15.5 million), created a record. A record was also set for price per carat for any sapphire - US$236,404 per carat, with the sale of a 17.16- carat Kashmir sapphire and diamond ring for US$4.06 million.

QUEK Chin Yeow, Deputy Chairman and Head of Jewellery Department, Sotheby’s Asia, said, “Tonight we were thrilled to achieve consecutive per-carat price records for Kashmir sapphire first with the Cartier sapphire ring at US$193,975 per carat then again with a sapphire and diamond ring at US$236,404 per carat. The top lot of the night, a vivid purple-pink diamond ring mounted by Sotheby’s Diamonds, attracted keen competition before fetching a wonderful price of US$17.77 million and setting a world auction record for a fancy vivid pink diamond.” He further elucidated the other notable lots at the sale including a very fine icy multi-coloured jadeite ‘Guan Yin’ ornament which was amongst the top 10 lots of the sale; the Ballerina Butterfly brooch co-designed by Cindy Chao and Sarah Jessica Parker to benefit the New York City Ballet which sold for HK$9.4 million.

The sale took place on October 7, and achieved US$75 million in total.

The previous world auction record for a fancy vivid pink diamond and record price per carat for a pink diamond were both achieved by a 5.00-carat fancy vivid pink diamond, which sold for US$10,776,660 or US$2,155,332 per carat in Hong Kong in November 2009. Also, the previous record price per carat for a sapphire was achieved by a 28.18-carat Kashmir sapphire and diamond ring which sold for US$5,093,000 or US$180,731 per carat at Sotheby’s New York in April 2014.